Kenyan Banking History

In: Historical Events

Submitted By gillian72
Words 12780
Pages 52
LAWS OF KENYA

RETIREMENT BENEFITS ACT
CHAPTER 197

Revised Edition 2012 [2010]
Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org [Rev. 2012]

Retirement Benefits

CAP. 197

CHAPTER 197
RETIREMENT BENEFITS ACT
ARRANGEMENT OF SECTIONS
PART I – PRELIMINARY
Section
1.
2.

Short title.
Interpretation.

PART II – THE RETIREMENT BENEFITS AUTHORITY
3.
4.
5.
5A.
5B.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.

Establishment and incorporation of the Retirement Benefits Authority.
Headquarters.
Object and functions of the Authority.
Assistance in investigation.
Authority may investigate.
Board of directors.
Powers of the Board.
Conduct of business and affairs of the Board.
Delegation by the Board.
Remuneration of Board members.
The Chief Executive Officer.
Staff of the Authority.
The Common Seal of the Authority.
Protection from personal liability.
Liability of the Authority for damages.
The Retirement Benefits Levy.
The Retirement Benefits Authority Fund.
Investment of funds of the Authority.
Financial year.
Annual estimates.
Accounts and audit.

PART III – REGISTRATION OF RETIREMENT BENEFITS
SCHEMES, MANAGERS, CUSTODIANS AND ADMINISTRATORS
22.
22A.
23.
24.
25.
25A.
25B.
26.
27.
28.
29.
30.
31.

Retirement benefits schemes managers, and custodians to be registered.
Criteria for suitability.
Registration.
Requirements for registration of schemes.
Requirements for registration of managers and custodians.
Requirements for registration of custodians.
Requirements for registration of administrators.
Requirements with regard to trustees.
Refusal of registration.
Deregistration.
Duration and renewal of certificates.
Register.
Use of register in evidence.

R11 - 3

[Issue 1]

CAP. 197

Retirement Benefits

[Rev. 2012]

PART IV – REGULATION AND SUPERVISION
OF RETIREMENT BENEFITS SCHEMES
Section
32.
33.…...

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